Independent Bank Group Inc (NASDAQ:IBTX) has been given an average recommendation of “Buy” by the nine analysts that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $72.00.

A number of analysts have issued reports on the company. BidaskClub raised Independent Bank Group from a “hold” rating to a “buy” rating in a research report on Wednesday. Zacks Investment Research raised Independent Bank Group from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a research report on Wednesday, January 10th. Stephens reissued a “buy” rating on shares of Independent Bank Group in a research report on Wednesday, January 31st. Sandler O’Neill reissued a “buy” rating on shares of Independent Bank Group in a research report on Wednesday, January 31st. Finally, SunTrust Banks reissued a “neutral” rating on shares of Independent Bank Group in a research report on Wednesday, January 31st.

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In other news, Director John Webb Jennings III sold 2,750 shares of Independent Bank Group stock in a transaction on Friday, March 16th. The stock was sold at an average price of $73.15, for a total value of $201,162.50. Following the completion of the transaction, the director now directly owns 36,206 shares in the company, valued at $2,648,468.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Douglas A. Cifu sold 11,416 shares of the business’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $71.15, for a total value of $812,248.40. Following the transaction, the director now owns 90,205 shares of the company’s stock, valued at $6,418,085.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 61,049 shares of company stock valued at $4,464,449. 7.70% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of IBTX. BNP Paribas Arbitrage SA grew its position in Independent Bank Group by 54.3% during the third quarter. BNP Paribas Arbitrage SA now owns 2,908 shares of the bank’s stock worth $175,000 after buying an additional 1,023 shares in the last quarter. Ellington Management Group LLC purchased a new position in Independent Bank Group during the fourth quarter worth about $203,000. Navellier & Associates Inc purchased a new position in Independent Bank Group during the fourth quarter worth about $212,000. Comerica Bank purchased a new position in Independent Bank Group during the fourth quarter worth about $219,000. Finally, Teacher Retirement System of Texas purchased a new position in Independent Bank Group during the fourth quarter worth about $301,000. Institutional investors and hedge funds own 56.29% of the company’s stock.

Independent Bank Group (IBTX) traded down $1.40 during trading hours on Friday, reaching $72.20. The company’s stock had a trading volume of 113,279 shares, compared to its average volume of 136,034. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.52. Independent Bank Group has a twelve month low of $51.70 and a twelve month high of $75.95. The stock has a market capitalization of $2,076.33, a P/E ratio of 24.38 and a beta of 1.27.

Independent Bank Group (NASDAQ:IBTX) last released its earnings results on Monday, January 29th. The bank reported $0.90 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.93 by ($0.03). Independent Bank Group had a return on equity of 7.79% and a net margin of 21.91%. The firm had revenue of $88.83 million during the quarter, compared to analysts’ expectations of $83.85 million. During the same period in the prior year, the business earned $0.83 earnings per share. analysts forecast that Independent Bank Group will post 4.79 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Monday, February 12th were given a $0.12 dividend. The ex-dividend date was Friday, February 9th. This is a boost from Independent Bank Group’s previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a dividend yield of 0.66%. Independent Bank Group’s payout ratio is 16.05%.

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Independent Bank Group Company Profile

Independent Bank Group, Inc is a bank holding company. Through the Company’s subsidiary, Independent Bank (the Bank), the Company provides a range of commercial banking products and services tailored to meet the needs of businesses, professionals and individuals. As of December 31, 2016, the Company operated 41 banking offices in the Dallas/North Texas area, the Austin/Central Texas area, and the Houston metropolitan area.

Analyst Recommendations for Independent Bank Group (NASDAQ:IBTX)

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